Share this article
Bank of America Approves Bitcoin Futures Trading for Some Clients: Sources
Clients are in the process of being set up, with some already live, according to one of two sources.
Updated May 9, 2023, 3:21 a.m. Published Jul 16, 2021, 12:45 p.m.
Make us preferred on Google
Bank of America, the second-largest bank in the U.S., has approved the trading of bitcoin futures for some clients, according to two people with knowledge of the matter who spoke on condition of anonymity.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Like most institutions, the bank has been conservative in its approach to the crypto sector, but due to the large amount of margin required to trade the futures, it is now allowing some clients to access the crypto market, one of the sources said. Some clients are setting up to trade bitcoin futures, which are cash settled, and one or two may have already gone live, the other source said.
A number of investment banks are reportedly allowing clients to invest in crypto products. In March, Goldman Sachs confirmed plans to relaunch its cryptocurrency trading desk after a three-year hiatus, and in May, the investment bank started buying and selling bitcoin futures in block trades through Chicago Mercantile Exchange (CME) Group, using Cumberland DRW as its trading partner.
Lee este artículo en español.
Bank of America will also be using CME futures, according to one of the sources.
Bank of America declined to comment.
Earlier this month, it emerged that the Charlotte, N.C.-based bank had created a team dedicated to researching cryptocurrencies and related technologies. In 2018, Bank of America blocked financial advisers and clients from trading in bitcoin-related investments but that policy has now changed.
Read more: Bitcoin Futures’ Open Interest Drops More Than Half in 2 Months
CME bitcoin futures were launched in 2017. In May, the CME launched its “Micro Bitcoin” futures products in an attempt to capitalize on bitcoin’s price rally.
Earlier this year, CME took the prime spot on the list of the biggest bitcoin futures trading platforms, indicating a continued rise in institutional participation.
The total open interest in the bitcoin futures market is sitting at $11.3 billion, down 59% from its April 13 peak of $27.3 billion, according to Arcane Research.
Update (July 16, 13:30 UTC): Adds that Bank of America declined to comment.
Update (July 16, 14:36 UTC): Notes that these futures are cash settled.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
R3 bets on Solana to bring institutional yield onchain
As DeFi investors seek stable, uncorrelated returns, R3 is building Solana-native structures to bring private credit and trade finance into crypto markets.
What to know:
- R3 has repositioned itself around tokenization and onchain capital markets, with Solana as its strategic base.
- The firm is targeting high-yield, institutional assets like private credit and trade finance, packaged in DeFi-native structures.
- Liquidity, not tokenization itself, is the next unlock for real-world assets onchain, according to R3 co-founder Todd MacDonald.
Top Stories
